Business Daily from THE HINDU group of publications
Saturday, Jan 29, 2011
ePaper | Mobile/PDA Version | Audio | Blogs

News
Features
Stocks
Foreign Exchange
Shipping
Archives
Google

Group Sites

Home Page - Credit Market
Money & Banking - RBI & Other Central Banks
Credit growth moderates in fourth quarter: RBI

Our Bureau

Mumbai, Jan. 28

Bank credit fell by Rs 43,327 crore to Rs 37,19,885.39 crore in the fortnight ended January 14, according to the scheduled banks' statement of position released by the RBI.

Credit growth has moderated in the beginning of the fourth quarter of the fiscal.

In the fortnight ending December 31, bank credit had increased by Rs 1,23,346.44 crore to Rs 37,63,212.63 crore.

Mr M.D. Mallya, Chairman and Managing Director, Bank of Baroda, said that since the growth in credit in the last quarter of 2009-10 was substantial, credit growth this quarter could moderate due to high base effect.

“In the fourth quarter the credit growth will naturally taper down vis-à-vis last year, as in the fourth quarter of the last fiscal there was huge growth in advances. Credit should grow at around 20-21 per cent this year,” Mr Mallya said.

On a year-on-year basis, credit has grown at around 23.5 per cent till date, the RBI data showed.

During the fortnight ended January 14, deposits collections fell by Rs 25,742.15 crore to Rs 49,45,648.08. On a year-on-year basis, bank deposits have grown at around 16.4 per cent.

The data showed that investments by banks in government and other approved securities rose by Rs 16,250.91 crore to Rs 14,64,489.32 crore.

More Stories on : Credit Market | RBI & Other Central Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Repeat westerly systems to bring rains for N. India


Caparo order comes as a shot-in-arm for Suzlon
Suzlon wins $1.28-b Caparo wind power deal
Gates stresses on need to focus on family planning
Funds with overseas focus perform well in last one month
ONGC profit more than doubles on higher crude, natural gas prices
Apple iPad hits Indian stores
Ashok Soota quits MindTree
Cotton export quota allocation leads to chaos
Negative mood slams market, again
RBI remains mute spectator to inflow, outflow of FII funds before Coal India IPO
Credit growth moderates in fourth quarter: RBI
U.K. Sinha is next SEBI chief




The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2011, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line